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Rated is a term used in casinos and gambling to describe when the casino tracks your play for comps. Comps are complimentary items or services that the casino offers to its loyal customers, such as free drinks, meals, rooms, tickets, or cashback. Comps are usually based on the player’s level of play, which is determined by the amount of time, money, and bets they spend at the casino.
The casino tracks the player’s play by using a rating system, which involves issuing a player card or a loyalty card to the player. The player card is a plastic card that contains the player’s name, account number, and other personal information. The player card is inserted into a slot machine or handed to a table game dealer before the player starts playing. The card records the player’s activity, such as the game, the bet size, the duration, the wins, and the losses. The card also accumulates points that can be redeemed for comps or other rewards.
The rating system allows the casino to monitor the player’s play and to reward them accordingly. The casino uses the rating system to calculate the player’s expected loss, which is the amount of money that the casino expects to win from the player over time. The expected loss is based on the house edge, which is the mathematical advantage that the casino has over the player in each game. The casino then offers the player a percentage of their expected loss as comps, usually ranging from 10% to 40%. The higher the player’s expected loss, the higher the percentage of comps they receive.
The rating system also allows the casino to categorize the player’s play into different tiers or levels, such as bronze, silver, gold, platinum, or diamond. Each tier or level has different benefits and privileges, such as higher comp rates, exclusive bonuses, VIP services, or invitations to special events. The player’s tier or level is determined by the amount of points they earn within a certain period of time, such as a month or a year. The more points the player earns, the higher the tier or level they reach.